https://www.taxtmi.com/caselaws?id=456828 ITAT Mumbai set aside CIT(A)'s order confirming addition of unexplained income under sections 69A and 115BBA for cash deposits during demonetisation. The assessee operated a bar and restaurant with claimed daily cash sales of 9,000 serving 32 dishes on 10 tables operating 365 days annually. ITAT held that when assessee provided detailed explanations of cash sales, deposits, and transactions supported by audit account books, AO cannot resort to estimation without proper examination. Matter remitted to AO for fresh adjudication after examining all documents and providing hearing opportunity. Appeal allowed for statistical purposes. en-us Wed, 31 May 2023 00:00:00 +0530 Sat, 17 Aug 2024 22:53:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456828 ITAT Mumbai set aside CIT(A)'s order confirming addition of unexplained income under sections 69A and 115BBA for cash deposits during demonetisation. The assessee operated a bar and restaurant with claimed daily cash sales of 9,000 serving 32 dishes on 10 tables operating 365 days annually. ITAT held that when assessee provided detailed explanations of cash sales, deposits, and transactions supported by audit account books, AO cannot resort to estimation without proper examination. Matter remitted to AO for fresh adjudication after examining all documents and providing hearing opportunity. Appeal allowed for statistical purposes. Case-Laws Income Tax Wed, 31 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456828